Bitcoin News Today: ETF Exodus and Whale Dumps Trigger $1.2T Crypto Collapse

The cryptocurrency market continued its downward spiral on November 3, 2025, with Bitcoin ($BTC) tumbling 2.5% in the past 24 hours to trade below $108,000, exacerbating a broader selloff that erased $1.2 trillion in market value over eight weeks, according to Coinpedia live updates. The decline, fueled by a combination of macroeconomic anxieties and technical pressures, has sent shockwaves through the U.S. crypto sector, with stocks of firms like Coinbase (COIN) and MicroStrategy (MSTR) following the lead of the digital asset's freefall.

Federal Reserve Chair Jerome Powell's recent remarks that rate cuts this year are "not a foregone conclusion" reignited fears of prolonged high interest rates, bolstering the U.S. dollar and triggering a flight from risk assets. This dovish shift coincided with a record US Bitcoin ETFs lost $946 million in outflows from U.S. Bitcoin exchange-traded funds (ETFs), the largest since August, as institutional investors offloaded holdings amid waning confidence. CoinShares Head of Research James Butterfill noted that Bitcoin, the most interest-rate-sensitive asset, bore the brunt of the exodus, with products like the iShares Bitcoin Trust shedding $390 million alone, as documented in reports that show how Bitcoin bears $946m brunt of recent outflows.

Compounding the decline, long-term Bitcoin holders—often dubbed "whales"—moved nearly $1.48 billion in BTC to exchanges since October 1, signaling potential dumping by early investors. Notable transfers included Owen Gunden's $364.5 million deposit to Kraken and a surge in activity from Satoshi-era wallets, raising concerns about forced liquidations. Meanwhile, miners added to the selling pressure, transferring 210,000 BTC to exchanges in October, with Binance's holdings swelling by 108,000 coins.

The selloff also coincided with U.S. President Donald Trump's controversial remarks restricting access to Nvidia's advanced Blackwell AI chips to U.S. customers, dampening optimism from recent U.S.-China trade de-escalation. This shift, coupled with a 34-day-old government shutdown and stalled congressional funding talks, heightened economic uncertainty, further weighing on risk assets like Bitcoin.

Ethereum (ETH) fared worse, dropping 5.1% to $3,657.77, while smaller cryptocurrencies like Dogecoin (DOGE) confirmed a bearish Dogecoin's death cross as its 50-day moving average dipped below the 200-day line. In contrast, Solana (SOL) emerged as a rare bright spot, attracting $421 million in ETF inflows as investors rotated into high-growth alternatives.

The carnage extended to public markets, with Coinbase shares plunging 3.9% and MicroStrategy's stock down 1.8% despite its Bitcoin treasury's mark-to-market gains. MicroStrategy's accumulation continued, including adding 397 BTC in a recent round. Robinhood, another crypto-centric firm, bucked the trend, reporting a Q3 revenue surge to $1.2 billion, though this was attributed to broader trading activity rather than crypto. Mizuho raises Coinbase stock price target and strategic moves, such as Coinbase's partnership with Eightco pilot program for AI-resistant authentication, offered limited solace.

Technically, Bitcoin price forecast analyses showed the drop below $109.5K triggered automated sell orders, with critical support now at $108K–$109K. Historically, November has been a strong month for BTC, averaging 42.32% gains, but analysts caution that sustained recovery hinges on ETF inflows exceeding $5 billion weekly and open interest falling below $30 billion, after reports that ETF investors pull $2.6B amid the unwind.